API3/USD - Buy opportunity! $4 presents an interesting case!

API3 has dropped 54% and we went in the golden pocket between Fib 61% and 65%. This is usually a good buy area during a correction and especially in a bull market.

What is more important is that just under we also have an ascending support line. This confirms that this drop has arrived towards its end. Moreover, the yellow parabola also shows we have reached the end of this correction because once broken we shall pump.

For now, there are some good early signs on the 4h indicators that we should move higher. RSI dipped to 20 and now we're back up as we formed a Head and Shoulder reversal pattern.

MACD is a lagging indicator and should turn bullish if we maintain this level and not fall lower. STOCH RSI is already bullish. Good.

An entry here presents some risks, but overall I think it is worth it and a 50% discount on API3 is nothing to fuss about. We will rarely get such a discounted price in this bull market.

Also keep a close eye on BTC and ETH (below my ideas). BTC may correct further, but for ETH I think we should be done. To be seen. Tomorrow will give us a better indication of price direction.

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